Property investment confidence increases

Nia Williams

December 9, 2009

The property investment company’s monthly survey reports that 88% of those people who responded during November say that now is a good time to invest in UK property compared to 87% in October and 85% in September. This is yet another sign that improvements in the UK property market are continuing despite ongoing economic difficulties.

Further positive results were revealed with a higher percentage of respondents expecting UK house prices to rise by a greater amount. 23% of those people who expect prices to rise over the next 12 months believe that this will be by more than 5% versus just 14% of respondents from last month’s survey.

Two thirds say that they are benefiting from the current low level of interest rates and of these 60% say that this has increased their desire to purchase property.

Although the number of people who are considering buying a property in a foreign location fell slightly, nearly 50% of those who completed the survey say that they would consider buying overseas, with the most popular location identified as the Caribbean.

Commenting on the figures, Kevin Wilkes, managing director of the Worldwide Property Group said: “The results of this survey once again show the resilience of the property market. With dreadful savings rates and continuing stock market volatility, investors are still turning to bricks and mortar as a safe place in which to invest their hard earned money. I see no reason why this will not continue throughout 2010 and beyond.”

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